Nigeria’s oil and gas/maritime allied sectors may soon receive a boost as some yet to be disclosed European and Asian investors have indicated interests to invest the sum $450m in Integrated Oil & Gas Limited’s facility located in the Tomaro Industrial Park, Lagos.
Capt. Emmanuel Ihenacho, Chairman of Integrated Oil & Gas Limited, disclosed this to The Nation during an interview. According to him, the potential investors have already indicated interests by visiting to make enquiries about how they can be part of the company’s ongoing project.
Iheanacho, however stated that the company is not in a rush to sign any deals with the foreign investors, as it intends to complete preliminary works on the project.
integrated Oil and Gas Limited is building two tank farms worth several millions of dollars on Lagos Island. These tanks would help in storing petroleum products and further aid distribution of the product in Nigeria.
The potential areas of investment
If the potential partnership with the foreign investors eventually takes place, it will aid Integrated Oil and Gas’ plans to construct what Iheanacho called a “sleep way” for ship-building and repairs. According to him, the foreign firms have already indicated interest in this regard and would like to construct between 6,000 and 10,000 dead weight flat vehicles that will be able to transport petroleum products through shallow waterways; particularly the Escravos and Forcados parts of the Niger Delta region.
The entire project will also include a modular refinery with 20,000 capacity, a ship-building/repair yard (which will house a fabrication facility), accommodation facilities for staff, strategic storage facility, and a helipad amongst other facilities.
Integrated Oil & Gas Limited is a privately-held indigenous company which was incorporated in 1998 as an affiliate of Genesis Worldwide Shipping (GWS), its parent company. The company serves as an integrated, one-stop shop for consumers in the downstream sector of Nigeria’s Petroleum marketing industry.